Telefônica Brasil announces its results for 1Q24 By Investing.com

SÃO PAULO, May 7, 2024 /PRNewswire/ — Telefônica Brasil – (B3: VIVT3; NYSE: VIV), announces its results for 1Q24:

1Q24 Results:  Telefônica Brasil S.A.

Strong operating performance leading to above-inflation growth in revenues, EBITDA and net income

1 “ Other Revenues includes Voice, xDSL, FTTC and IPTV.

Net revenue continues to grow above inflation (+6.5% YoY), led by the strong performance of Mobile Service Revenue (MSR) (+9.3 YoY), driven by the double-digit growth of Postpaid Revenue (+11.4% YoY). Postpaid’s strong performance is related to the increase in customer base (+6.6% YoY), both due to migrations from prepaid as well as through the acquisition of new customers, annual price adjustments, and by maintaining postpaid’s (ex-M2M) churn in its lowest historical level, 0.97% per month.

Fixed revenue  maintained its positive performance (+1.6% YoY), driven by the increase in FTTH Revenue, which continued to expand strongly (+14.7% YoY) in 1Q24, because of investments in network deployment and fiber customer additions. FTTH network is currently present in 443 cities (+7 cities YoY) with 26.8 million homes passed (+10.0% YoY) and 6.3 million homes connected (+12.3% YoY).

EBITDA totaled R$5,277 million (+6.8% YoY), with a margin of 39.0% (+0.1 p.p. YoY), due to the strong service revenue performance.

Operating Cash Flow totaled R$3,403 million (+4.5% YoY), with a margin of 25.1% (-0.5 p.p. YoY) over net revenue. In 1Q24, Capex ex-IFRS16 totaled R$1,874 million (+11.2% YoY) or 13.8% of revenues (+0.6 p.p. YoY), directed towards strengthening our mobile network.

Net income  attributed to Telefônica Brasil reached R$896 million in 1Q24 (+7.3% YoY). Shareholder remuneration paid up to April reached R$2,190 million,…